Health Insurance in Austin Could Have Subsidies Expire in January 2023
Health insurance in Austin and the boosted Affordable Care Act subsidies that come with it have proven to be a major benefit to millions of previously uninsured and underinsured Americans and their families.
If Congress does not extend enhanced subsidies for ACA coverage before the end of the year, approximately 3.1 million people could lose coverage or see premium hikes of hundreds of dollars.
The news of this impending issue has been known for months after the Robert Wood Johnson Foundation released a study back in April. The ACA exchanges resulted in a record-setting enrollment of 14.5 million people for 2022, and the boosted credits were a big reason why.
Researchers found that there will be nearly 5 million fewer people enrolling for coverage next year if the enhanced credits are not extended.
Kathy Hempstead, a senior policy adviser at the RWJF, said in a statement, "A several of progress in boosting the coverage rate to record levels seems inevitable if Congress does not act." Rick Thornton, an Austin health insurance agent , also pointed to an article in Fierce Healthcare that said
Thornton is optimistic that something will be done, but until then, Americans will be forced to play a waiting game. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online.
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